Companies / Pakistan
BP Plans Pakistan Development
June 2006 | FDI AlertUK oil major BP has announced an accord with Pakistan's national oil company Oil and Gas Development (OGDC) for exploration and development work in the Asian country. The group plans to invest US$20mn in offshore development work, although further details were not forthcoming. The amount of investment is minor in international terms, but is significant for the Pakistani upstream industry, which manages to produce only 63,000 barrels per day (b/d). BP itself accounts for some 12,000b/d of this figure, but will hope to increase its presence in the country with this most recent investment.
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